The open market purchase scheme will see up to 100 homes, which are up for sale in the local housing market, being bought each year to boost the number of properties for people in the region.
The main criteria set against the purchase of homes on the open market is as follows;
• There is demand for the type and size of property in that area
• The combined cost of buying the property and bringing it up to letting standards would represent value for money to the council
• Where the purchase of a property will enable the council to take complete, or majority, ownership of blocks of flats making communal repairs much easier to complete
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• Homes purchased would meet the particular needs of households not currently available in the council stock, e.g. homes suitable for people with disabilities
The open market purchase is in addition to the council's successful empty homes scheme. This scheme involves the council buying long term privately owned empty houses and flats, refurbishing them and renting them out to tenants.
Pamela Humphries, Housing Development Manager, said: "There is a huge demand for affordable housing and it's vital we look at different ways of increasing the supply of homes to help meet this need.
"We have ambitious plans to transform communities and regenerate our town centres over the next two decades, including proposals to potentially demolish our existing tower blocks and to build over 2,000 new homes by 2027.
"By purchasing good quality homes on the open market, many of which will be ex-council properties, we can help meet people's housing requirements and increase local housing supply. It will also hopefully help us progress refurbishment works within mixed tenure blocks of flats."
(LM/MH)
